Machinima Cuts 10% Of Workforce In Restructuring

The global video network that runs YouTube‘s top entertainment channel said today it is eliminating 22 of its 206 employees. Machinima said it plans to make an increased commitment to programming and distribution and its YouTube network, and the cash saved by the cuts will go to boosting investment in those areas. The company said it will announce its new programming and distribution initiatives over the next several months. The youth-skewing network serves 2.6 billion video views and reaches more than 200 million uniques monthly with content that includes scripted series, daily and weekly shows, gameplay videos and official publisher content. In March, it inked a deal with Ridley Scott’s commercials production company RSA to produce 12 short films that will focus on science fiction content that might be grown into feature franchises.